For online auctions Benefit Bidding offers a feature known as “Popcorn” or “Dynamic” bidding. If a bid is made within a set time usually set to 9 minutes and 59 seconds of the auction’s scheduled closing time, Popcorn Bidding kicks in. Popcorn or dynamic bidding automatically extends the scheduled closing time for an auction item. For these items bidding is usually extended another 10 minutes after a bid is placed. Each subsequent bid resets the clock to allow bids to be made for another 10 minutes. Once there has been no bidding activity for 10 minutes, the bidding is considered completed and no further bidding is accepted. The auction for the item is then closed. As always, the person who placed the highest bid wins the item.
Popcorn or dynamic bidding prevents a practice known as “sniping,”. With sniping bidders try to place a bid in the last seconds before an auction closes thus preventing other bidders from responding with a higher bid. Auctions which employ Popcorn or Dynamic Bidding mimic traditional “live” auctions.
As always, if there is a specific item you really want, it is in your best interest to monitor the auction during the last few minutes and to offer the highest Auto Bid amount that you are willing to spend.
Please click here to contact us for more information about Popcorn Bidding, Online Auctions, Mobile Bidding or raising funds for your philanthropic organization. Turning on the Popcorn Bidding options will result in raising more funds with your online fundraising auction.